CARES Stimulus Payment - Where on TurboTax Home and Business do I enter this $2400 payment on my 2020 Form 1040

[sdfinwiz]

My wife and I received a $2400 in CARES Act stimulus payment in year 2020. Which section on TurboTax do I enter the receipt of this payment and how do I enter this payment information on TurboTax Home and Business. My wife and I both receive Social Security. My wife is fully retired but I run a solely owned LLC that generates a Schedule C.

[DoninGA · Accepted solution]

The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.

[sdfinwiz]

Thank you for your reply.